Markets end firm as autos, energy rally

After a firm start on the back of strong Asian cues, the Indian bourses held on to their gains and ended firm as buying resumed in auto and oil sectors.
 
The benchmark index, the Sensex, touched a high of 16,203 in intraday deals before settling at 16,153 levels- up 230 points (1.5%) from its previous close. In broader markets, the Nifty too gained 1.5% or 70 points to end the session at 4,826 levels.
 
"The market is expecting the year-on-year IIP growth to be at 12.3%. This expectation, along with the global cues, triggered today's rally," said Mayank Shah, CEO, Angram Capital.
 
The markets even ignored the inflation figures, released earlier in the day, indicating a rise in food inflation, moving closer to 18 per cent for the week ended January 30 as compared to 17.56% in the previous week.
 
During the week, the Sensex added 237 points (up 1.5%), reversing the trend after three weeks.
 
In other Asian markets, Hang Seng, Taiwan Weighted and Seoul Composite moved up over 1% each.
 
Back home, Hero Honda (up 4%), Jaiprakash Associates (up 3.5%), ICICI Bank and Mahindra & Mahindra (up 3% each) were the key gainers among Sensex scrips.
 
Market heavyweight, Reliance Industries managed to breach the Rs 1,000 mark on the upside for the first time this week and closed 3% higher at Rs 1,014 levels. Maruti Suzuki, TCS, Hindustan Unilever, ITC, Hindalco and Wipro were the other big gainers. However, Tata Power slipped 1% to Rs 1,265.
 
Among sectoral indices, the BSE auto index surged 2% to 6,963 levels. BSE oil & gas, realty, metal and bankex were the other big gainers.
 
In the realty space, DLF added 1.7% to close at Rs 307. The company plans to raise Rs 1,000 crore through unsecured loans by the end of this month, and has hinted that prices in the housing segment could witness an increase.
 
Orbit Corp, Peninsula Land, Unitech, HDIL and Mahindra Lifespace Developers were the other prominent gainers in this pack.
 
Overall, the BSE market breadth was positive. Out of 2,905 stocks traded, 1,616 advanced while 1,203 declined.The value chart was led by Reliance with a turnover of over Rs 124.05 crore, followed by Tata Steel (Rs 104.70 crore), Hindustan Copper (Rs 76.44 crore), Unitech (Rs 72.99 crore) and DLF (Rs 63.61 crore).

Indiabulls Power topped the volume chart with trades of over 12.30 million shares, followed by KRBL (9.89 million), Unitech (9.78 million) and Radhe Developers (6.28 million).